Case Study: Fleet Financial Performance Dashboard
As a worldwide leader in cruise vacation getaways with twenty-five ships in its roster, the client required a data solution that would consolidate and segment revenue figures from all cruising vessels for side by side comparison.
Before entering into a partnership with INSPYR Solutions, the client had been capturing a great deal of information manually, while several cruise ships had implemented different data gathering software. In order to bring together these disparate sources of information and streamline processes, the client required a data gathering tool that could consolidate these data sources from its ships into one convenient place. This would make it possible to track performance for executive assessment through a dashboard with measurable and easily understandable KPIs.
In addition to segmenting the data, the client would need the dashboard to easily and dynamically display financial performance across all of its ships. Additionally, the dashboard would need to provide a drill down on metrics dependent on user access level, providing comparisons by ship size, region, destination(s), and revenue category.
The client enlisted INSPYR Solutions as a trusted technology partner to deliver the data segmentation consulting solutions needed to achieve this project’s goals. INSPYR Solutions provided a financial dashboard for high level decision making that was rich with data that had previously been difficult for the client to access. Through its tailored IT and business consulting services, INSPYR Solutions was able to identify KPIs, select the best interactive data management software, provide data display models, prioritize project phases and timelines, and identify key requirements for implementation across all of the client’s cruise ships. By providing expert IT professionals and utilizing Tableau as the preferred interactive data management system, INSPYR Solutions was able to consolidate data and provide an interactive dashboard displaying drill down metrics to allow side by side comparison of ship revenue across the fleet.
Through the allocation and acquisition of data from multiple sources, a detailed project phase timeline, and an enhanced data management tool, INSPYR Solutions successfully created an interactive financial dashboard that allowed the client’s executives and management teams to obtain all ship performance data and categorize revenue by source for detailed comparisons.
With these enhanced reporting tools, the client was able to identify problems and make corrections with sales, set goals for individual voyages, and set additional KPIs based on previous data. Through the financial dashboard created by INSPYR Solutions, the client was ultimately able to improve revenue streams, identify opportunities for growth, and experience the benefits of cost and time savings. Furthermore, to meet the demands of additional reporting and data input, at the end of the project INSPYR Solutions trained a third party firm to manage the system on an as-needed basis.
To date, the fleet financial dashboard is the single most used revenue performance tool for this client. Thanks to the multi-level user access for executives and management teams, this dashboard allows for more calculated decision making, demonstrating the value INSPYR Solutions offers clients looking to save time and money through greater efficiency.
The client offers a variety of quality cruises ranging from three to eighteen day voyages for a reasonable price. As a company dedicated to its mission of bringing fun to all, the client aims to deliver memorable getaways for customers by providing a ship full of entertainment and activities for people of all ages. A member of the World’s Leading Cruise Line alliance, the client is committed to quality and value, offering affordable cruise vacations to the general public. With attentive service, accommodating staterooms, many entertainment options, and a wide variety of activities and dining options, the client is among the most popular cruise lines in the world.